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Hard Money Loans in Goodwin, South Dakota
Goodwin, SD has 13 private money lenders serving the city. The average amount for loans in this city is $391,667. The average interest rate for loans in Goodwin is 10.2%. 25 months is the average term for notes issued in the city. The mean origination fee for the loans is 3.0 points. The mean loan to value offered for loans in Goodwin is 68%.
Loan Example 1
Crystal finds a condo in Goodwin, SD to renovate and re-sell. Since she does not have enough cash to buy the $200,000 property outright, she takes out a hard money loan from Dynamic Lending. Since the lender sets a 80% loan to value, Crystal will be required to put 20% down and the amount of the loan will be $160,000. The interest rate on the loan is 13% for a term of 6 months and the company requires a four point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle will be returned after the sale of the property.
Crystal will need to contribute a total of $32,400 up front to cover the $40,000 down payment plus the $6,400 origination fee. she will then pay $1,733 monthly to Dynamic Lending. If Crystal sells the project for $280,000 after 6 months, she would realize a total profit of $63,200 after deducting the original principle of $160,000, the cash contributed at closing of $40,000, the origination points of $6,400, and the aggregate interest payments of $10,400. This amount does not include remodeling costs.
Loan Example 2
Lorie takes out a private money loan from P & J Investment Group in order to renovate a townhome to flip in Goodwin, SD. The deal has the following parameters:
$210,000 sales price
85% loan-to-value (LTV)
6 month term
9% interest rate
4% origination fee
Lorie plans to sell the house when the note expires for $304,500. If she achieves this goal, the deal numbers would be as follows:
$304,500 sales price
- $178,500 note principle (85% LTV)
- $31,500 cash paid at closing (15% on 85% LTV)
- $7,140 origination points (4% of the $178,500 principle)
- $8,033 total interest paid (6 months x 9% interest)
-----------------------
= $79,328 gross profit (does not include taxes or renovation costs)
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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CMN Funding
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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